1.

Find the rate at Simple interest, at which a sum becomes four times of itself in 15 years.

Answer»

20%



LET sum be x and rate be R%
then, (x*r*15)/100 = 3x [important to note here is that SIMPLE interest will be 3x not 4x, BEAUSE 3x+x = 4x]

=> r = 20%



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